Tinkoff Bank spins off travel service

MOSCOW. Nov 9 (Interfax) - Tinkoff Bank has spun off its travel service into a separate company.

Tinkoff Travel LLC was registered last week at the same address as Tinkoff Bank's headquarters on Golovinskoye highway in Moscow. Alexander Malakha, the former head of bank founder Oleg Tinkov's La Dacha project in Astrakhan, is listed as the sole owner of the new company.

"The Tinkoff Travel service is developing successfully and growing rapidly, so we decided to spin it off into a separate LLC. Clients increasingly trust the service - half of turnover on plane tickets already goes through Tinkoff Travel and these figures are growing strongly every year," Tinkoff Bank's press service told Interfax.